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The current spell of rains in the high ranges has raised hopes of cardamom traders for better arrivals in the auctions and a likely drop in prices.
Majority of the traders are on a wait-and-watch stage, as they expect higher arrivals in the coming days due to better production in the wake of good weather conditions. They are also anticipating a price drop between Rs.100-200 per kg from the current levels. The auction market is right now realizing better prices on account of low arrivals.
The auctions at the Spices Board’s e-auction centre at Bodinayakanur has already commenced with a good participation of traders. Though the market started on a weak note, the arrivals in quantity was good at 41 tonnes in the auctions conducted by CPMCS. In the afternoon auctions conducted by Cardamom Processors Association, the quantity on arrival was 15 tonnes.
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